Boat Loans

A day on the water is even more enjoyable when you secure a good boat loan.
Competitive rates
Affordable boat financing options help you save money for your adventures.
Special discounts
Get an even lower rate when you have a Premium Checking or Simple Checking account. 
Prequalify quickly
Call us at (800) 845-0432 to find out exactly how much money you can borrow.
Early payoffs
You can pay off your boat loan as early as you would like, without any penalty.
Visitors come from all over to discover what we already know – South Carolina's coasts and waterways are breathtaking. Take advantage of our natural resources by getting your boat loan through South Carolina Federal. You will be water-skiing, fishing, or cruising in no time with our simple application process and local decision-making.
Various Options
Choose from different loans with different terms, whether you want to purchase a new or used boat, or refinance your existing boat loan from another institution.
Insure Your Watercraft
Make sure you have the right boat insurance policy for your next excursion, too. Our wholly owned subsidiary, Insurance Solutions**, offers competitive quotes from dozens of top-rated carriers.
Additional Resources

Boat Loans (New)

Effective Date: January 25, 2024
Previous Year or Newer1 APR*
0 - 60 months As low as 8.99%
61 - 144 monthsAs low as 9.75%
145 - 180 monthsAs low as 10.75%

Boat Loans (Used)

Effective Date: January 25, 2024
Older than Previous Year APR*
0 - 60 months As low as 9.49%
61 - 144 months As low as 10.25%
145 - 180 months As low as 11.25%
Work hard, play hard.
Thank you for your loan inquiry with South Carolina Federal Credit Union.
Fill out this form and a member from our loan team will be in touch soon.
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      The road to a better auto loan starts here.
      Low rates, flexible payment options and available discounts help you keep monthly payments down.

      Frequently asked questions
      View more

      For all loan requests you will be asked to provide personal information:

      • Name of each applicant
      • Physical address (P.O. Box does not apply)
      • Length of time at address
      • Phone number
      • E-mail address
      • Social Security number
      • Date of birth
      • Income information
      • Name of current employer
      • Employer's address and phone number
      • Length of employment
      • Salary
      • Position held
      • Other applicable income (for example, retirement and/or pension)
      • Current mortgage or rent obligations
      • Name and phone number of nearest relative not living with you
      • Reason for loan application

      To apply now, get started with an online loan inquiry, visit a local financial center or contact us.

      Loan payment due dates are generally 30-45 days from the loan closing date. The payment due date is notated in your loan documents and agreed upon before disbursement of your loan. Due dates and loan payment amounts can also be viewed through Online Banking, Mobile Banking or statements.

      Click here to learn more about how to make a payment online.

      A payoff quote is available for all loans and will include accrued interest and the daily per diem.
      To obtain today's payoff or a 10 business day payoff quote for auto, boat, recreational vehicle, credit cards, or personal loans, visit a financial center or contact us. Any overage of your payoff will be deposited into your savings account or returned to you in an overpayment check.

      For first mortgages, please contact Dovenmuehle at (877) 636-9534.

      For second mortgages/HELOCs, please visit a financial center or fax your payoff request to our Fulfillment Operations Team at (843) 737-7400. The request must include:

      • Member name
      • Member Social Security number
      • Account number
      • Payoff (good through) date
      • Return fax number
      • Copy of a signed authorization of release form from member requesting this information.

      Once payoff is given, personal access line of credit loans and HELOCs will be locked and no advances can be taken.

      Our loans are calculated with simple interest, the calculation of daily accrued interest on your principal loan balance.

      Simple interest is calculated and assessed by multiplying the account’s current principal amount (and only the principal) by the interest rate. But as you pay down your principal with each monthly on-time payment, that principal decreases, lessening the interest assessed. If you pay more than the minimum required payment, the principal will decrease even more.
      For example, a $25,000 loan at a 7% interest rate would be calculated using the formula (Principal Balance x rate)/ 365 days:

      • $25,000 x 7% = $1,750
      • $1,750/365 days = $4.80 per day